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With a population of 162 million people, Nigeria is an important market. Nigeria is currently one of the world’s
major investment destinations and one of the fastest growing economies in the world. A burgeoning middle
class has created huge opportunities for businesses in consumer markets like financial services, food, energy
and telecommunications.

A large and competitive domestic market with high unmet demand for basic goods and services

A growing and increasingly sophisticated middle-class

Untapped abundant natural resources

A large and flexible workforce

A population that is innovative and entrepreneurial

Nigeria is a resource rich nation. The country is Africa’s largest crude oil producer and generates huge
revenues from sales of oil and gas. Most of Nigeria’s land area is arable and the country has an array of non
oil mineral resources many of which are yet to be exploited.

Although the Nigerian economy is heavily dependent on revenues from oil and gas, the administration of
President Goodluck Jonathan is committed to diversifying the nation’s economy and reducing dependence on
crude oil exports. Focus in recent times has been on increasing non oil exports and reviving the agricultural
sector.

Action is being taken to improve Nigeria’s notoriously poor infrastructure. The ongoing power sector reforms for
instance should lead to significant improvements in power supply in the coming years.

For those considering investing in Nigeria, the message is that the opportunities far outweigh the risks.